You open your wallet and see 0 Token or cryptocurrency 😱 Nobody wants to be a hero of this story. Here we share some useful information about how you can hold and send your cryptocurrency in order not to become a victim of scammers or your own inattentiveness
Don’t hold your funds on exchange wallets for a long time
In
this case an exchange controls your funds and you can’t influent their
security. If hackers want to attack the exchange, they will steal all
money that will be there.
Here are some prominent and recent examples of centralized exchanges being hacked and the huge amounts were stolen.
Mt Gox — 750 000 BTC
Bitfinex — 119 756 BTC
Coincheck — 523 000 000 NEM
Trust only yourself.
Use 2FA verification
Even
if a hacker knows your login and password, he will not be able to log
into your account or withdraw funds without your phone and/or email.
Ideally, the confirmation code would come to another device than you use
to log in: the hacker will not be able to snap up your data if he has
an access to one of your devices.
Divide and rule.
Choose open source wallets
So
you will be sure that there are no “back doors” in the system. Storiqa
recommends MEW wallet as an example of open source wallet.
Trust transparency.
Hold your private keys carefully
Leave
a text document named “keys” on the desktop for your passwords from
some product stores accounts. Private keys of your wallet should be kept
deeper. Don’t hold them on Google drive for example. Create several
private key copies including paper version. Don’t forget where they are
and do not allow others to these locations.
Be the only one.
Don’t be scammed
If
anyone wants you to send your cryptocurrency anywhere to receive much
more it’s a red flag. Don’t trust suspicious ETH giveaways in
Twitter — scammers will just steal your money and won’t send you any
prize. Don’t trust “support members” of a company who ask you to make
any payments for their help. Even if someone in the Internet recommends
to do that, remember that you send YOUR OWN money and you have no
guarantee from your advisors.
There is not free money.
Carefully check what and where you send it to
The
address which you send the funds to must be carefully checked to make
sure that all symbols are in the right place. Also, you should be sure
that if you send ETH, you send them to an ETH wallet (most exchanges
have different addresses for different cryptocurrencies). Be also
careful while filling any transaction details fields: for example, we
know people who send 0,00001 ETH indicating Gwei worth 10 ETH. They have
mixed up it, but who cares?
Check it one more time.
We hope these simple advices will save your funds and make you successful in the cryptoworld.
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